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Weave Communications to Be Acquired by Francisco Partners in $650 Million Deal

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Weave Communications (WEAV) said Tuesday it agreed to be acquired by investment firm Francisco Partners in a transaction valued at roughly $650 million.

Weave stockholders will receive $7.40 in cash per share, a 34% premium to the stock's closing price on Monday, the company said.

The company will become a private entity and maintain its headquarters in Lehi, Utah, after the transaction's expected closing in Q4, it added.

Shares of the company were up nearly 32% in early Tuesday trading.

Price: $7.30, Change: $+1.76, Percent Change: +31.68%

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